Stocktaking FAQs
Here are some answers to to many of the stocktaking questions we have been asked. If you have other questions please get in touch and we will do our best to answer them for you.
- Do I need an independent/external stocktaker?
- How do I know a stocktaker is qualified?
- Do I need an experienced stocktaker?
- What type of businesses need a stocktake?
- Can I just have a wet bar or dry bar audit?
- Do I need a local stocktaker?
- Can your stock valuations be used by our accountant?
- Can a stocktaker provide a valuation for buyer and seller?
Do I need an independent/external stocktaker?
To give you an impartial view of how your bar and catering operations are performing, with knowledgeable recommendations on how to improve your profitability, an experienced and qualified stocktaker is highly recommended. Read more about why to use an independent stocktaker»
How do I know a stocktaker is qualified?
The qualifying body of the licensed trade stocktakers is ILTSA (The Institute of Licensed Trade Stock Auditors). To be a members of ILTSA, stocktakers need to have passed stringent exams, qualified stock auditors use the the designation MILSA after their name.
Jonathan Marshall is a member of ILTSA: see Jonathan's ILTSA profile»
Do I need an experienced stocktaker?
Yes. Although IT systems can capture the numbers, an experienced stocktaker can apply their expertise to turn this into useful business insight, learning and actionable plans. Expertise in your type of business/trade means that they will be fully aware of the nuances of your business, draw accurate conclusion and talk to you in your language.
Jonathan Marshall has been a stocktaker since 1981, helping hundreds of businesses with pub, licensed trade, hospitality, catering and food audits. Find out more about Jonathan's expertise»
What type of businesses need a stocktake?
A wide range of businesses require stocktaking services but typically it's related to the licensed trade and food (hospitality/catering) where stock is traded daily. Therefore businesses including pubs, bars, nightclubs, hotels, restaurants, cafes, leisure centres, sports centres and PubCos typically call upon stocktaking services.
Can I just have a wet bar or dry bar audit?
The stock audit is tailored to your business and so if you require a wet bar (drinks), dry bar (food) or both, we can provide the stocktaking services you need.
By the nature of their work, stocktakers are on the road travelling to their clients and so you do not need to choose one that is based on your doorstep. However, it is good to have a stocktaker that is flexible and can get to you at short notice should you require it (after an emergency for example - storms/floods/fires etc).
Based near Brighton in Sussex, we serve clients in the south east (Sussex, Hampshire, Kent and Surrey) and the south west.
How long does it take to get a stocktake report?
It doesn't take long at all. Often the reports and feedback are completed on site so that you can act on recommendations straight-away. On more complex audits we may take a day or so longer to put the detailed conclusions together. As well as face to face feedback all reports are e-mailed at conclusion. Find out more about stocktaking reports»
How often should I have a stocktake?
This will vary depending on the type and size of business but for many it will be monthly although smaller establishments may request them undertaken 6 weekly or longer.
At out set we will discuss with you the options that will best meet your stocktaking needs and objectives.
Can your stock valuations be used by our accountant?
Absolutely. All the reports we provide will support your accountant. Find out more about our stock valuations»
Can a stocktaker provide a valuation for buyer and seller?
Yes. As an independent stocktaker we can work with either party in the sales process but we can also work for both which will help reduce the costs of both parties. Find out more about our stock valuations»
What is the cost of a stocktake?
This will vary depending on the type and size of business but the cost is quite a small business cost particularly when set against the cost of your most important business assets. Please give us a call today on 07889 171817 and we will be able to give you indicative costs while on the call.
Contact independent stocktaker Jonathan Marshall today
Contact Jonathan via e-mail to discuss your stocktake or audit needs.
